SAMWA
Description:
*
"History
Salvus Strategic Investments Ltd ("SSI") listed on the
New Zealand Stock Exchange on 8 July 2004 following an initial public
offering that raised $20.1 million. Participants in the initial public
offering also subscribed for SSI warrants. These are also listed on the
New Zealand Stock Exchange and can be traded independently from SSI
shares.
Salvus Asset Management
The Manager, Salvus Asset Management Limited, is a niche investment
management company owned and run by two experienced fund managers, Andrew
Couch BSc, PhD, ASIP and Simon Wilson, BCM, MBA, ASIP. Both the fund
managers have valuable international experience investing in smaller
companies derived from working for prestigious UK institutions. The
Managers distinctive value style lends itself to small company investment
as a number of academic studies document the existence of return premiums
associated with investing in small companies and value stocks. The Manager
is a value investor and will apply a disciplined value approach to its
investments.
Investing in New Zealand Small Companies
Salvus Asset Management Limited has chosen the New Zealand small company
sector because of its attractive investment characteristics and the
structural changes that are set to improve the environment for New Zealand
small companies. The Manager has carried out thorough research of the
small company sector, including company visits and fundamental analysis.
Defining the Investment Universe
The New Zealand smaller company universe is defined by the Manager, and
for the purposes of investment on behalf of SSI, as those NZSX listed
companies outside the top 40 companies in the NZSX50 Index, together with
companies listed on the new NZAX market and private (or unlisted)
companies. SSI's ability to invest in unlisted small companies provides an
opportunity for investors to obtain some exposure to such companies which
would otherwise be difficult to do."
Website: http://www.salvus.co.nz/
Recent announcements: click here
|
Year |
|
|
|
2005 |
2006 |
Average
GR |
Compounding
GR |
|
Gross
growth rates |
|
|
|
|
|||
|
Revenue |
|
|
|
|
-11% |
-11% |
|
|
NPAT |
|
|
|
|
-147% |
-147% |
|
|
Total
Assets |
|
|
|
|
-4% |
-4% |
|
|
Net
Assets |
|
|
|
|
-4% |
-4% |
|
|
Per
Share figures and growth |
|||||||
|
Earnings |
|
|
|
$
0.05 |
$
(0.02) |
|
|
|
|
|
|
|
|
-146% |
-146% |
|
|
Net
Assets |
|
|
|
$
1.01 |
$
0.97 |
|
|
|
|
|
|
|
|
-4% |
-4% |
|
|
Dividends |
|
|
|
|
$
0.02 |
|
|
|
|
|
|
|
|
|
0% |
|
|
Profitability |
|||||||
|
Return
on Assets |
|
|
|
4% |
-2% |
|
|
|
Equity
Multiplier |
|
|
|
1.01 |
1.01 |
|
|
|
Return
on Equity (ROE) |
|
|
|
4% |
-2% |
|
|
|
ROE
(avg E) |
|
|
|
9% |
-2% |
|
|
|
Net
Profit Margin |
|
|
|
57% |
-30% |
|
|
|
Dividend
payout ratio |
|
|
|
0% |
-99% |
|
|
|
Liquidity |
|||||||
|
Net
working capital |
|
|
|
$
3,030,554 |
$
996,060 |
|
|
|
Current
ratio |
|
|
|
18.58 |
10.94 |
|
|
|
Acid
test ratio |
|
|
|
18.58 |
10.94 |
|
|
|
Other |
|||||||
|
Times
interest earned |
|
|
|
|
-5.50 |
|
|
|
Operating
exp/income |
|
|
|
41% |
127% |
|
|
|
|
|
|
|
|
|
|
|
|
Summary
Financials |
|||||||
|
Income |
|
|
|
1599059 |
1426385 |
|
|
|
Expenses |
|
|
|
653176 |
1880087 |
|
|
|
Tax |
|
|
|
34354 |
-29200 |
|
|
|
NPAT |
|
|
|
911529 |
-424502 |
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
20550862 |
19738476 |
|
|
|
Liabilities |
|
|
|
172363 |
100204 |
|
|
|
Net
Assets |
|
|
|
20378499 |
19638272 |
|
|
| Registered Office: c/- Hayes Knight 1/100 Bush Road Albany Auckland |
Mailing address: |
| Directors: Roger Armstrong Andrew Couch Barrie Downey |
Secretary: |
| Auditors: KPMG |
Solicitors: Russell McVeagh
|
| Bankers: |
Registrar: Computershare Investor Services Limited |
| Other: |
|
| Other | Last updated:14-11-2007 |
Company balance date: 30 June
Trading over the last year
